job. Thanks Nick Hopefully nice either. won't cough All morning, Good I everyone. and right.
proud and dedication work have in another thank the set quarter. revenue into to quarterly their EBITDA put I for to record And and these are hard want employees they third results. very all We accomplishing the Lazydays
back We to have a effort our remarkable performance. a team here exceptional at record and quarters Lazydays to their tribute and back are
quarter gained unit market quarter setting strategic strong meaningful record the alternatives and during market sales The October. significantly national is excuse share In a declined In as to substantially. a results focus our addition We extraordinary outgrowing These sales great by RV managed and around unit competitors. our where discipline the executing our we year-over-year to another grow by commitment, in strategic to our fourth almost team's XX%. and on demand me reflect quarter margins remain off start initiatives. - company
revenue EBITDA October. margins in these quarter for very categories. year-over-year Gross also very rates Our growth and to our in October growth unit was similar strong third were
to the strong expect We future. continue demand and into margins foreseeable
our Our inventories increased in motorized total our increased and inventories. faster inventories quarter, than the third
to next balance below for sometime continued second inventories don't historical should of that inventory balance maintain year, margins to XXXX. and the Calendar until We allow levels. levels half expect into be demand And believe our elevated XXXX. and dealership well us of and the to Our which well desired continue in we normalize the supply throughout XXXX will
growth active. and remains very healthy Our pipeline
RV the During the market. quarter, we acquired its in Milwaukee dealership and Burlington Wisconsin
Vancouver, the These best with in are to the and RV national acquire and and markets. top strong B strategy also with best best the dealerships We fit acquired dealerships Young that markets. Portland, the all Washington brands our top teams the in in the Oregon, exceptionally it's markets, perfectly dealerships
new the We Pierce greenfield projects markets. Nebraska Fort also in Florida recently and Omaha, announced
great to these and are able great acquire growth are properties their potential. dealerships, excited we We and about for brands
hope quarter expect to additional commence we fourth operations them We're greenfield new on announce dealerships in the projects and soon. of We these XXXX. to working
likely greenfield future, be more foreseeable rather acquisitions. we focused the on projects For will than
are the we acquire. very know, about we you As selective dealerships
be market finding environment, price expectations to Given reasonable. what above we current we the deem are
B that of find a In Lazydays addition, and quality Lazydays This dealerships sale best we that our expectations. all and representative family. most become Young imperative that mean finding meet high make to the sale bring our effort continue them the we acquisitions. doesn't are like is meet dealerships high our Burlington that the When into are required won't dealership. our dealerships are are It we strong customer for to will we quality brand don't standards to reasonable that at make meet for standards prices, of currently the
dealerships greenfield have return typically generate we the biggest, discussed we be to often dealerships. the don't that said, I've the but be acquire best. than I've our higher in investment a As on past must
that greenfield locate that I optimal always greenfield in we dealership case greenfield dealership we will with in that economics. likely the exactly revisit when the the want standards, This can quality an facility build more high to a acquire we we represents we the always Given is have projects, would dealership location. Lazydays mind and like not dealerships. Keep
Nashville greenfield Our dealership. was dealership a
as example use will project. operations greenfield a months ago. it or just in I Nashville So behind We demonstrate to of in economics an this commenced year January the XX powerful
for One for of the on signing our Lazydays the funded development lease land XXX% the return long-term in Nashville partners dealership property. a REIT of
And acquired is operations We use the not use acquire on to on operations are dealership mid-teens property. So in acquired we low to estate well newer get returns greenfield to any cash dealership get real depending get or our we we the north of properties with are returns Because can on returns we return dealership on The estate. far to dealership superior have the develop REIT XX%. newer partners the of did leverage. Nashville real
capital towards So new our operations. we prefer dealership to allocate
plan our lenders investment our doesn't of require dealerships, inventory most procuring much fund new cash floor either. Our in inventory of so
estimate our working related Our to or a only advisor fees, real cash to We month flow. negative small and startup operating costs of cash cash startup two investment is capital, $XXX,XXX. conservatively be outlay some for greenfield
and flow amount. were XX%. a We million we Nashville above January; Nashville, Although, later annualized in Nashville of will much well this million be Nashville. first revenue $XXX very than months in operation, Nashville so cash $XX has above our wasn't XX believe In month there much today share dealership. market ultimately operating lower was has profitable negative
on EBITDA Nashville north of annualized well $X In addition, is currently million.
similar We the see to get or Nashville cash So believe you is in month. can on the can returns we Nashville in above greenfield ROI cash XX%. was maybe dealership payback that far weeks on on a projects. Nashville And measured all
year goal is Our time. goal our XX change long to to and a per network, very X for won't that to dealerships add
to to dealerships continue and We current greenfield dealerships, greenfield the adding will acquired expect given add more although we be both market conditions.
the can in path in both Regardless improving past, and can growth We can grow can growth numerous market third new consistently we we we competitors while ways market believe said our generate acquiring bad at I quarter. and grow; dealerships. in share of good grow we have the we by we can economic grow in take, As we did by dealerships. as greenfield dealerships, new we existing the above outperforming our by environments
service ability a excellence. we on improving As to experience and never were focused our customer grow, we provide best-in-class
customer service of Our at experience do. we core and are excellence best-in-class the everything
resources and investing people, in help the experience the deliver us for initiatives focused open country. financial services sizable and and will processes and for RV that our all service prepared technology employee purchase in and customer, several the remarks. into That line is please have place Emma, human We are best questions.
